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The central bank has basically destroyed the business of risk, and commercial real estate remains a looming disaster. As a result, banks aren't lending to regular people. The economy increasingly relies on little more than newly printed money.
Original Article: "Thanks to the Fed, the High-Risk, Small-Time Borrower Is Becoming a Thing of the Past"
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.
Douglas French is President Emeritus of the Mises Institute, author of Early Speculative Bubbles & Increases in the Money Supply, and author of Walk Away: The Rise and Fall of the Home-Ownership Myth. He received his master's degree in economics from UNLV, studying under both Professor Murray Rothbard and Professor Hans-Hermann Hoppe.